Midland County Report
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Home Ownership

Goal: 

Measure

There are three interrelated measures that include: 1) percentage of owner-occupied housing units, 2) value of owner-occupied units with a mortgage, and 3) characteristics of occupied homes.


Why This Indicator is Important

The U.S. Department of Housing and Urban Development (HUD) defines housing affordability as payment for monthly housing expenses that does not exceed 30% of a household’s monthly gross income (rent or mortgage payment plus insurance and taxes). Households paying more than 50% of their gross monthly income for housing are considered severely cost burdened.


How Are We Doing?

75.4% of Midland County residents own their home (72.1% in Michigan and 64.9% in the US).  95.6% of all Midland County homeowners are White (81.9% in Michigan and 78% in the US).  24.6% of Midland County residents rent their home (27.9% in Michigan and 35.1% in the US).

Additionally, according to the American Community Survey 12-month averages (2009-2013), of the 25,421 owner occupied units in Midland County, 61.8% have a mortgage and 38.2% do not have a mortgage.  There are 7,803 occupied units in Midland County inhabited by renters.  40.6% of the 7,803 rental households spend 35% or more of their gross income on rent, while 54.9% of renters pay between $500 and $1,000 dollars per month ($696 median).  Comparatively, 52.8% of the 15,701 homes with a mortgage  pay on average between $1,000 and $2,000 on mortgage ($1,249 median).  63% of homeowners with a mortgage, pay on average less than 25% of their gross income. For the 9,654 homes with no mortgage, 63.6% of owners pay less than 15% of their gross income in home costs, with a median rate for their costs around $456.


Qualitative Indicators for Impact



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Midland Area Community Foundation 76 Ashman Circle Midland, MI 48640 Phone: (989) 839-9661